The Coalition for a Prosperous America wrote to Commerce Secretary Gina Raimondo, suggesting that tariff rate quotas on European aluminum should be what replaces the 10% tariff on aluminum from the European Union. "We cannot return to the unhealthy belief that ad hoc anti-dumping or countervailing duties are sufficient for these vital sectors. Managing import penetration in aluminum, in particular, remains vital," the group wrote.
When the leaders of the Congressional Steel Caucus, members of Congress who advocate for steelmakers, start talking about how to wind down Section 232 tariffs on European steel, you know that the 25% tariff on steel from the European Union is unlikely to continue.
European Union Trade Commissioner Valdis Dombrovskis told reporters that because of the work that needs to happen within the EU to get it done before retaliatory tariffs are scheduled to double, the U.S. and the EU need to reach an agreement by the beginning of November. Tariffs on the retaliation list are supposed to double on Dec. 1. Dombrovskis said this on Bloomberg TV; he also suggested to reporters that the import and export monitoring that was part of the removal of steel and aluminum tariffs on Canada and Mexico is something that the EU is open to.
CBP issued the following releases on commercial trade and related matters:
A panel of trade experts said managed trade doesn't have to be a dirty word, but that the conflation of national security and economic security is dangerous. The Washington International Trade Association decided to host a discussion on managed trade after an essay was published by Edward Alden called, "Free Trade Is Dead. Risky ‘Managed Trade’ Is Here."
The Commerce Department has initiated a Section 232 case to determine whether the importation of neodymium magnets, a type of rare-earth magnet used to improve motor efficiency, is imperiling the national security of the United States. The department signaled it might initiate such an investigation back in June (see 2106080002), when it published a supply chain study.
The Bureau of Industry and Security is requiring public versions of all requests for Section 232 investigations that are not filed by U.S. government agencies, it said in a final rule. Beginning Sept. 24, requests containing both business confidential and classified national security information must be accompanied by public versions, with U.S. government entities exempt from the requirement. Business confidential information must also be summarized for the public, though classified national security information will not require a summary.
Trade professionals and a trade scholar, talking on a panel that compared the Trump and Biden administrations' trade policies, said that not as much has changed on trade as might have been expected. Christine McDaniel, an economist at George Mason University, said she doesn't expect any of the Section 301 tariffs or the steel and aluminum tariffs to be lifted before the end of 2021. "I haven’t seen any indication they’re going to pull back on the tariffs," she said during a seminar at the Virginia Small Business Development Center on Sept. 21. "I’ve heard people say that the Trump trade policy is just being continued by the Biden administration, minus the rhetoric. You can make the argument for that."
Rep. Brad Schneider, D-Ill., introduced a bill that would offer the more generous unemployment and retraining benefits under Trade Adjustment Assistance to people who lost their jobs because their companies' exports declined after retaliatory tariffs. The bill, whose text was published Sept. 20, says the retaliation could be as a result of tariffs under Section 232, Section 301 or the International Emergency Economic Powers Act. Currently, TAA covers job loss due to import competition in goods and services.
International Trade Today is providing readers with the top stories from Sept. 7-10 in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference number.